How much does it cost on average to buy a house in Belgium?

The number of real estate transactions in Belgium fell by 1.8% in the first half of the year, compared to the same period of 2021, with Wallonia posting an even greater decline (-2.5%, according to the real estate barometer of notaries published Thursday.

To Bruxelles, the decline was limited to 0.3% while the decrease in the number of transactions was 1.5% in Flanders. “The decline in activity is limited, but we have not seen this for a long time in the three regions, with the exception of the first confinement after March 2020. This decline is not illogical: interest rates are rising and energy prices are soaring. Added to this are the uncertainties about the evolution of our economy over the coming months”, explains notary Renaud Grégoire, spokesperson for Notaire.be.

In the first half of the year, the Walloon provinces experienced an uneven development in real estate activity. The province of Namur (-7.4%) saw the largest decline in real estate activity, followed by the Walloon Brabant (-5.7%) and the province of Liège (-4.5%). On the other hand, an increase in activity is observed in the province of Luxembourg (+3.9%) and in the Hainault (+0,4%).

Average price

Also in the first half of 2022, the average price of a house in Belgium reached 314.666 eurosan increase of 6.3% compared to the annual average of 2021. “But taking into account inflation which was 7.7%, we find that the average price has fallen in real terms. Another interesting fact : in the first quarter of 2021, you had to pay 316,001 euros for a house, while this price was slightly lower (312,719 euros) in the second quarter”, continues Renaud Grégoire.

The point by region

Buyers paid an average of 228,383 euros for a house in Walloniaan increase of 2.5% compared to the annual average for 2021. Over the same period of comparison, the average price of a house reached 341,635 euros in Flanders (+6.1%) and 565,866 euros at Bruxelles (+4.9%). Taking inflation of 7.7% into account, prices therefore fell in real terms in the three regions.

Finally, a buyer paid an average of 257,839 euros in the first half of the year for an apartment located in Belgium, an increase of 2.4% compared to the annual average for 2021. Taking into account inflation of 7.7%, the average price in real terms therefore fell by 5.3%.

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